Bailard, Inc.

Bailard is a registered investment adviser under the Advisers Act and is organized as a California Corporation. Bailard’s address is 950 Tower Lane, Suite 1900, Foster City, CA 94404. As of 12/31/14, Bailard had approximately $2.3 billion in assets under management. Bailard has been providing investment management services since 1972.

Anthony Craddock

Mr. Craddock is Senior Vice President of Bailard and has been an employee of Bailard since 1997. As a co-portfolio manager of the Bailard international equity strategy, his activities focus on security selection and improvement of Bailard’s quantitative international equity models. Previously, he served as performance analyst for the firm and was responsible for performance and risk analysis. Tony received his BA in applied mathematics from the University of California, San Diego, in 1992 and in 1996 earned his master's degree in Pacific international affairs from UCSD's Graduate School of International Relations and Pacific Studies.

Daniel McKellar, CFA

Mr. McKellar's career at Bailard began with a summer internship with the Quantitative Group. After receiving his Master's degree in Financial Mathematics from Stanford University, he joined Bailard full time as a quantitative analyst. His primary focus is quantitative research and model building, to augment both country and security selection. Prior to Stanford, he earned Bachelor’s degrees in Business Administration from Wilfrid Laurier University and Mathematics from the University of Waterloo with high distinction. Dan earned his Chartered Financial Analyst designation in 2014.

David H. Smith, CFA

Mr. Smith joined Bailard in 2009. Mr. Smith focuses on technology sector research for the firm and security selection for Bailard’s large growth/technology equity strategy. His previous responsibilities have included investment analysis, product development, and investment operations. Mr. Smith graduated in 2008 from the University of California at Berkeley with a double major in business administration and economics and received his Chartered Financial Analyst designation in 2012.

Eric P. Leve

Mr. Leve is Chief Investment Officer of Bailard. He has over 25 years of investment experience. He is a co-portfolio manager of the Bailard international equity strategy and is primarily focused on country selection and model-building. Eric received his BA in quantitative economics from the University of California, Berkeley, in 1986 and his Chartered Financial Analyst designation in 1997. He is an active member of the CFA Institute.

Peter M. Hill

Mr. Hill is Chairman and Chief Executive Officer of Bailard. He has over 37 years of investment experience. Peter leads Bailard in its pursuit to create innovative investment opportunities for clients. Before assuming this role in 2008, Peter was Bailard's Chief Investment Officer, a post he held for 13 years. Peter is a co-portfolio manager of the Bailard international equity strategy. Prior to joining Bailard in 1985, Peter worked in the United Kingdom as the Deputy Investment Manager for the Royal London Insurance Society, Ltd. where he managed portfolios of international equities and unit trusts. He received his BA in 1972 from Leeds University and is a Fellow of the Institute of Actuaries, U.K.

Sonya Thadhani

Ms. Thadhani is Chief Operating Officer and Chief Risk Officer of Bailard. She has over 19 years of investment experience. She is also the lead portfolio manager for the Bailard large growth/technology equity strategy. A member of Phi Beta Kappa, Sonya earned her BA in mathematics from Randolph-Macon Woman's College in 1994. She earned her Chartered Financial Analyst designation in 1997 and is a member of the CFA Institute and the CFA Society of San Francisco.

Thomas J. Mudge III

Director of Equity ResearchNationwide Bailard Cognitive Value Fund

Mr. Mudge heads Bailard's equity research and serves as the lead portfolio manager of the Bailard small value equity strategy. He has over 25 years of investment experience. Prior to joining the firm in 1987, Tom worked in the telecommunications industry. He earned his BA at Northern Michigan University in 1985 and the Chartered Financial Analyst designation in 1994. He has also completed the certificate program in Investment Decisions and Behavioral Finance at Harvard University's John F. Kennedy School of Government.

Warren Matthew Johnson

Mr. Johnson focuses on healthcare research and is closely involved with portfolio management activities related to that sector for Bailard’s large growth/technology equity strategy and Bailard's private healthcare fund. Previously, he was involved with Bailard's fixed income and asset allocation efforts, as well as serving as a trader. Before joining Bailard in 2001, he worked as a new business analyst at Conseco Financial Services. Mr. Johnson received his BA in biology from DePauw University in 2000.

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